What You Can Expect
At the end of your policy period you will be contacted by our Premium Audit department letting you know it’s time to complete your audit. You will receive an invitation to complete your audit online or in-person. The way that a Premium Audit is completed is determined based on premium size, type of operation and state requirements.
Types of Audits
Electronic Policyholder Report
Travelers ePHR® is an online tool that allows you to provide your Premium Audit information to us electronically.
The online questionnaire will request information about your business. You will be asked a few simple questions:
- Describe the operations of your business
- Describe the duties of each owner, officer, partner, etc., and note the payroll for each
- Provide payroll information for the policy period and a description of employees’ duties*
- Indicate if you use anyone other than an employee to perform work on your behalf
- Upload Federal 941s, State Quarterly Wage Reports, and/or last filed Federal Tax Return
- Profit /Loss statement if policy based on sales estimates
*Note: No payroll data is needed if provided to Travelers by your payroll services provider.
For a physical audit, a Travelers Appointment Scheduler will contact you to set up an in-person appointment. During the audit appointment, the auditor will review financial records, such as:
- Payroll records, journals, Federal 941s, State Quarterly Wage Reports
- Other financial records such as a General Ledger, Profit/Loss, etc.
The auditor will also review your operations, and may ask for information about employee duties or obtain information on others that may perform work on your behalf that are not paid through payroll.
A Travelers Premium Auditor will conduct your audit remotely over the phone. You will be asked to submit specific records and supporting information on our secure website, after which an auditor will review the audit results with you over the phone and via email. Click here for an overview of the virtual audit.
Paper Policyholder Report
Most businesses will receive an invitation to utilize the ePHR online system. If you prefer not to use the online tool, you can call or email Customer Service to request a paper-based PHR. The same, simple questions will apply.